Axis Capital has maintained hold rating on the stock with a target at Rs 245 per share.
Shares of Zensar Technologies slipped 5 percent intraday Tuesday after company's December quarter (Q3FY19) net profit declined by 40 percent to Rs 55.28 crore against Rs 93.4 crore in the September quarter 2018.
Its revenue rose to Rs 1,035.55 crore versus Rs 968.71 crore.
The company declared an interim dividend of Re 1 per share and appointed Anant Vardhan Goenka as an additional director on the board of the company, effective from January 21, 2019.
Axis Capital has maintained hold rating on the stock with a target at Rs 245 per share.
According to Axis Capital the Q3 performance was a beat on revenue at USD 143.7 million. However, company's strategy around ‘Return On Digital’ has seen success without healthy deal wins.
The strategy of focusing on top 20 clients is starting to yield results, it added.
At 10:58 hrs Zensar Technologies was quoting at Rs 224.90, down Rs 8.20, or 3.52 percent.
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